I Squared Capital sells the largest solar platform in Taiwan to Marubeni
21.4.2020 12:00:00 EEST | Business Wire | Press release
I Squared Capital, through its ISQ Global Infrastructure Fund I, has completed the sale of Chenya Energy to Marubeni Corporation. Chenya Energy is a dedicated solar development, construction and operating platform in Taiwan and was a wholly owned subsidiary of Asia Cube Energy, a pan-Asian renewable portfolio company founded by I Squared Capital in 2017.
“In three years under I Squared Capital’s stewardship, Chenya Energy grew from 2.3 to 344.4 megawatts of solar capacity across multiple technologies, including floating, ground-mounted and rooftop solutions. The company is currently building the world’s largest floating solar project and has grown rapidly to become the largest solar platform in Taiwan,” said Gautam Bhandari, Managing Partner at I Squared Capital. “This is I Squared Capital’s third platform realization in emerging markets and adds to our track-record of creating value for our investors through building world-class infrastructure growth companies that are highly valued by strategic buyers. I Squared Capital remains active in looking for attractive opportunities around the world.”
ISQ Global Infrastructure Fund I portfolio has realized approximately $1.8 billion in equity value from its platforms alone. Other platform realizations include Kendall Green Energy (a cogeneration facility in Cambridge, Massachusetts) to Veolia, Cube Hydro (one of the largest independent hydroelectric companies in the U.S.) to Ontario Power Generation, Lincoln Clean Energy (a leading onshore wind developer in the U.S. with 800 megawatts) to Ørsted, and Amplus Solar (the preeminent provider of rooftop solar systems for the Indian commercial and industrial market with over 344 megawatts) to Petronas.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecom, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Hong Kong, London, Miami, New Delhi, New York and Singapore.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200421005304/en/
Contact information
Andreas Moon, Managing Director and Head of Investor Relations
+1 (786) 693-5739 | andreas.moon@isquaredcapital.com
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